Bank of America analysts believe that the annual volume of U.S. sports-related event contracts could grow to $1.1 trillion and that this activity could generate $10 billion in annualized revenue for prediction market platforms, Bloomberg reported Thursday (April 9), citing a report by the bank’s analysts. That potential figure...
Household spending is still advancing, but income isn’t keeping up anymore. The latest economic data and PYMNTS Intelligence reporting show households continuing to transact and absorb higher prices, but with less support from paychecks and more reliance on financial workarounds that don’t necessarily show up...
America’s service economy expanded last month amid a sharp uptick in input prices and shrinking employment levels. That’s according to the Institute for Supply Management’s (ISM) Services PMI Index, released Monday (April 6) and showing that the measure of prices paid for services and materials...
One year after the Trump Administration’s Liberation Day tariff announcements, 12 months have established a clear pattern for middle-market firms. A policy shock has evolved into a durable operating condition, where volatility is arguably the only constant, shaping how businesses plan, invest and manage risk....
JPMorgan Chase is considering getting into the prediction market business, CEO Jamie Dimon said Tuesday (March 31). Speaking with CBS Evening News, Dimon said the bank could apply a prediction market model to stocks, allowing customers to choose the circumstances under which they would want...
Venture capital firm Paradigm has invested in popular prediction market Kalshi. Now, the company is reportedly looking to launch a prediction trading terminal of its own, aimed at professional traders and market makers, Fortune reported Tuesday (April 1), citing sources familiar with the matter. As...
Retail sales in February came in stronger than anticipated, offering a measure of reassurance that consumer activity continues to support the broader economy even as underlying pressures remain unresolved. Advance estimates from the Census Bureau show retail and food services sales rose 0.6% from January...
Airlines have begun increasing fares and adding baggage fees as fuel prices soar. As The Wall Street Journal (WSJ) reported Tuesday (March 31), this trend began in Europe and Asia and has since moved to the U.S., as the war in Iran ramps up the cost of...
Rising diesel fuel costs have reportedly led fresh food sellers to hike their prices. As the New York Times (NYT) reported Tuesday (March 31), the average price of diesel has risen 44% since the war in Iran began last month. If the conflict continues, the report added,...